BRAC Bank has won the "Best Bank for Women Entrepreneurs" award in the most prestigious platinum category at the 2021 Global SME Finance Forum Awards.
The bank has been recognised by the International Finance Corporation (IFC) and the SME Finance Forum for Innovations in Small Business Lending under the umbrella of its comprehensive Women Banking Initiative "TARA", said a press release.
Syed Abdul Momen, deputy managing director and head of SME Banking of BRAC Bank, received the award announced at a virtual ceremony on 21 October.
On winning this international award, Selim RF. Hussain, managing director and CEO of the bank, said: "BRAC Bank has long been promoting women entrepreneurship through its unique women banking proposition 'TARA'. With easy financing facilities, 'TARA' is realizing entrepreneurial aspirations of thousands of women at the grassroots across the country."
SME Finance Forum CEO Matthew Gamser said, "Every year we see more and more impressive institutions doing incredible things to help improve SMEs' access to finance. We see great innovations, we see new opportunities for redressing past imbalances due to gender, age and other inequities, and we see new ways to put the customer first and ensure that financing is responsible and truly beneficial. The 2021 competition brings us more of the same – bigger innovations, bigger achievements, and bigger potential."
Organised by IFC, a member of the World Bank Group, and the SME Finance Forum and endorsed by the G20's Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.